What Now?

– James Kunstler is one of my favorite commentators.  He cuts right to the bone.  Here’s his latest:

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It’s fascinating to read the commentators in mainstream journals like The Financial Times and The Wall Street Journal all strenuously pretending that “the worst is over” (maybe… we hope… fingers crossed… hail Mary full of grace… et cetera). The cluelessness would be funny if it didn’t involve a world-changing catastrophe. All nations that have reached the fork-and-spoon level of civilization are now engineering a vast network of cyber-cables that lead directly from their central bank computers to the Death Star that is hovering above world financial affairs like a giant cosmic vacuum cleaner, sucking up dollars, euros, zlotys, forints, krona, what-have-you. As fast as the keystrokes create currency-pixels, the little electron-denominated units of exchange are sucked out of the terrestrial economies into the black hole of money death. That’s what the $700-billion bail-out (excuse me, “rescue plan”) and all its associated ventures are about.

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